When you choose to pay monthly for your Marshmallow policy, you pay an upfront amount of your total annual premium. This is often referred to as a "deposit", but it's important to understand what this payment actually covers.
Is the upfront payment a deposit?
Not exactly. While it’s sometimes called a deposit, this payment is simply the first portion of your total premium. It is not an additional or separate fee.
Will this payment be refunded?
The refundability of your upfront payment depends on your cancellation date and whether you’ve made a claim:
If you cancel early and haven’t made a claim:
You may be entitled to a partial refund, including part of the upfront amount, depending on how long your policy was active.
The refunded amount will reflect the unused portion of your policy.
If you cancel after making a claim:
No refunds will be issued, including any part of the upfront payment.
This applies regardless of how early the policy is cancelled.
If your policy is cancelled due to non-payment or another breach:
A refund may not be provided, even if the policy is cancelled shortly after purchase.